The Democratic Republic of Congo (DRC) is a vast country with immense economic resources.
The economy of the DRC – a nation endowed with vast natural resource wealth – is slowly recovering after decades of decline. With the installation of a transitional government in 2003 after peace accords, economic conditions slowly began to improve as the transitional government reopened relations with international financial institutions and international donors, and President Kabila began implementing reforms. Progress has been slow to reach the interior of the country although clear changes are evident in Kinshasa and Lubumbashi. An uncertain legal framework, corruption, and a lack of transparency in government policy are long-term problems for the mining sector and for the economy as a whole. Much economic activity still occurs in the informal sector and is not reflected in GDP data. Renewed activity in the mining sector, the source of most export income, has boosted Kinshasa’s fiscal position and GDP growth in recent years. The global recession cut economic growth in 2009 to less than half its 2008 level, but growth returned to around 7% per year in 2010-12. In 2012, the DRC updated its business laws by adhering to OHADA, the Organization for the Harmonization of Business Law in Africa. The country marked its tenth consecutive year of positive economic expansion in 2012.
GDP – composition, by sector of origin:
Agriculture: 44.3% | Industry: 21.7% | Services: 34% (2013 est.)
Copper (copper, cobalt, gold, diamonds, coltan, zinc, tin, tungsten), mineral processing, consumer products (textiles, plastics, footwear, cigarettes), metal products, processed foods and beverages, timber, cement, commercial ship repair.
Coffee, sugar, palm oil, rubber, tea, cotton, cocoa, quinine, cassava (manioc), bananas, plantains, peanuts, root crops, corn, fruits; wood products.
Current Head of State: Joseph Kabila
Legal System: Civil legal system based on Belgian version of French civil law.
- Full name: Democratic Republic of the Congo
- Population: 69.6 million (UN, 2012)
- Capital: Kinshasa
- Area: 2.34 million sq km (905,354 sq miles)
- Major languages: French, Lingala, Kiswahili, Kikongo, Tshiluba
- Major religions: Christianity, Islam
- Life expectancy: 47 years (men), 51 years (women) (UN)
- Monetary unit: 1 Congolese franc = 100 centimes
- Main exports: Diamonds, copper, coffee, cobalt, crude oil
- GNI per capita: US $190 (World Bank, 2011)
- Internet domain: .cd
- International dialing code: +243